US - Texas Permanent School Fund has reportedly revealed plans to add up to US$2.6bn in absolute return funds of funds.
The $23.9bn billion fund will reportedly allocate the money gradually to one or more actively managed multistrategy, multimanager funds.
The decision was said to have been made following a new strategic asset allocation policy approved earlier this month by the state board of education.
The fund’s current asset allocation is 55% domestic equities, 25% fixed income and 20% international equities.
In a separate development, New York State Teachers’ Retirement System (NYSTRS) has decided to reduce its domestic equity target from 51% to 46% of assets, and boost its international equity target to 15% from 10%.
Most people think it is right that savers take responsibility to protect from pension scams.
More than 100,000 savers face being landed with huge tax bills following tiny uplifts to their pension, a Freedom of Information (FOI) reply has revealed.
Alan Pickering says politicians should have the freedom to redefine what is meant by 'absolute'